Interactive economic lot scheduling: A successful implementation

Interactive economic lot scheduling: A successful implementation

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Article ID: iaor199146
Country: United States
Volume: 29
Start Page Number: 1
End Page Number: 5
Publication Date: Dec 1988
Journal: Production and Inventory Management Journal
Authors: ,
Abstract:

The economic lot scheduling method described is applied to three product lines in a company with annual sales of around $300 million. The implementation of this system resulted in an inventory reduction of $8 million (20% of total inventory) and interest savings alone of $640000 per year. This system is interactive and includes a unique approach for generating gross requirements for lower-level parts.

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